TD Ameritrade Institutional Supports Bills That Benefit Individual Investors, Small Businesses and Independent RIAs
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As SEC Readies for Vote on Regulation BI, RIA Advocate Skip Schweiss
Heads to Capitol Hill to Meet Policymakers
JERSEY CITY, N.J.–(BUSINESS WIRE)–$AMTD #Advocating4you–Investing for retirement has never been more critical, but some current
policies create roadblocks for investors, small businesses, and the
independent registered investment advisors (RIAs) who guide them. As
Congress considers legislation to help address the nation’s retirement
savings crisis, TD
Ameritrade Institutional1 reiterates its support for
proposals that help investors plan and save for their long-term
financial goals.
Skip Schweiss, Managing Director of Advisor Advocacy and Industry
Affairs for TD Ameritrade Institutional, is meeting with members of
Congress and their staffs in Washington this week and next to raise
awareness on a range of issues impacting investors and independent RIAs.
On June 5 and 6, Schweiss will join other Financial
Planning Association members and industry leaders on Capitol Hill.
On June 13, he’ll take to the Hill again as a participant in the Investment
Adviser Association’s Advocacy Day. TD Ameritrade Institutional is a
sponsor of both of these events.
Tax reform, SEC regulation and advisor oversight, investor protections,
small business access to retirement plans, restoration of the investor
deduction for advisory fees, extension of the pass-through deduction for
RIA firms, and cybersecurity are just a few of the items that will be
discussed.
“TD Ameritrade Institutional for 15 years has proudly stood and fought
at the side of RIAs. We come to Washington to help make their voices
heard on policies and rules that can impact their clients and their
firms,” said Schweiss. “Investing for their retirement, for one, is
critical for American families and for our country as a whole. We should
make it easier, not more difficult, for investors to pursue their
financial goals.”
The U.S.
Government Accountability Office recently reported that roughly half
(48%) of households headed by someone 55 years of age or older have no
retirement savings.2 And earlier this year, the National
Institute on Retirement Security found that the typical retirement
account balance is $40,000.3
Schweiss goes to Washington just as Congress takes up two bills related
to retirement savings: the Retirement Enhancement and Savings Act of
2019 (RESA), in the Senate, and the Setting Every Community Up for
Retirement Enhancement (SECURE) Act of 2019, which passed in the House
of Representatives on May 23. Both bills would, among other things,
raise the required minimum distribution age from 70½ to 72, enable small
businesses to work together to form multi-employer 401(k) plans and make
part-time workers eligible for retirement benefits.
Reg BI Up for SEC Vote on June 5
RIAs are meeting lawmakers at a historic moment.
On June 5, the SEC Commissioners are set to vote on one of the most
significant proposed regulatory changes in decades: Regulation Best
Interest (Reg BI) 4, proposed in April 2018, which would
establish new standards for brokers making investment recommendations as
part of a package of new rules to be applied to brokers and investment
advisors.
Also on June 5, the SEC Commissioners will vote on whether to publish an
interpretation of the “solely Incidental” language found in the
Investment Advisers Act of 1940. This interpretation was not part of the
April 2018 proposals.
Advisors have mixed views of the proposed regulation. A recent survey of
independent RIAs5 conducted for TD Ameritrade Institutional
found that though half (51%) say they do not have strong opinions on the
SEC’s Reg BI as proposed, 35 percent say they are in favor of it, while
14 percent are opposed. But if Reg BI as proposed were enacted, roughly
half (48%) of RIAs expect business will continue as usual.
RIAs accept some aspects of the SEC’s proposed Reg BI but are lukewarm
on others. More than seven in 10 agree with introducing licensing and
continuing education requirements for RIAs, and 85 percent believe RIA
clients should receive periodic statements showing fees. On the other
hand, 45 percent disagree with imposing minimum capital requirements on
RIA firms, and 69 percent oppose RIA fidelity bonding requirements.
“Regulations can impact the ability of thousands of independent advisors
to compete in the marketplace, yet most RIA firms are small businesses
that need to focus on serving their clients,” said Schweiss. “We come to
Washington to amplify their voices and look out for their interests. We
also continue to tell policymakers that investors are better served by
rules that offer strong protections in the financial markets and
increase access to independent investment advice.”
The survey conducted for TD Ameritrade Institutional also found that
independent RIAs consider regulatory issues to be their top management
challenge. Advisors also say that, second only to technology, their
biggest spending increases year after year are on managing regulatory
and legal issues.
To learn more about TD Ameritrade Institutional’s RIA advocacy efforts,
please visit https://www.tdainstitutional.com/why-ria/advocacy.html
About TD Ameritrade Holding Corporation
TD Ameritrade provides investing
services and education to
more than 11 million client accounts totaling approximately $1.3
trillion in assets, and custodial
services to more than 7,000 registered investment advisors. We are a
leader in U.S. retail trading, executing an average of approximately
850,000 trades per day for our clients, more than a quarter of which
come from mobile devices. We have a proud history
of innovation, dating back to our start in 1975, and today our team
of 10,000-strong is committed to carrying it forward. Together, we are
leveraging the latest in cutting edge technologies and one-on-one client
care to transform lives, and investing, for the better. Learn more by
visiting TD Ameritrade’s newsroom at www.amtd.com,
or read our stories at Fresh
Accounts.
About TD Ameritrade Institutional
TD
Ameritrade Institutional empowers more than 7,000 independent
registered investment advisors to transform the lives of their clients.
It provides powerful technology and resources that help simplify running
a business and let advisors spend more time doing what matters most —
serving their clients. Through meaningful innovation, steadfast advocacy
and unwavering service, TD Ameritrade Institutional supports RIAs as
they build businesses that positively impact their clients and
communities. TD Ameritrade Institutional is a division of TD Ameritrade,
Inc., member FINRA/SIPC, a brokerage subsidiary of TD Ameritrade Holding
Corp.
Brokerage services provided by TD Ameritrade, Inc., member FINRA (www.FINRA.org)
/ SIPC (www.SIPC.org).
1 TD Ameritrade Institutional is a division of TD Ameritrade,
Inc., a brokerage subsidiary of TD Ameritrade Holding Corporation
2
Retirement
Security: Most Households Approaching Retirement Have Low Savings,
U.S. Government Accountability Office, March 26, 2019
3 Retirement
Insecurity 2019, National Institute on Retirement Security, March
2019
4 SEC
Open Meeting Agenda, Wednesday, June 5, 2019, Securities and
Exchange Commission
5 2019
RIA Sentiment Survey, TD Ameritrade Institutional, January 2019
Source: TD Ameritrade Holding Corporation
Contacts
Media Contact:
Joseph A.
Giannone
Communications + Public Affairs
T: 201-369-8705
[email protected]
TORONTO and GLIL YAM, Israel, Sept. 11, 2024 /PRNewswire/ — IM Cannabis Corp. (“IMC” or the “Company“) (NASDAQ: IMCC) (CSE: IMCC), a leading medical cannabis company with operations in Israel and Germany, is pleased to announce that Mr. Shmulik Arbel has been appointed to the Company’s board of directors (the “Board“) effective September 9, 2024. Mr. Arbel brings a wealth of experience in strategic plans that drive profitability, as well as, finance and corporate governance, further strengthening the company’s commitment to driving growth while focusing on sustainable profitability.
“We are thrilled to welcome Shmulik to our Board of Directors,” said Oren Shuster, Chief Executive Officer of IM Cannabis. “Shmulik’s extensive international experience at Leumi, coupled with his proven track record in banking and finance will be invaluable as we continue to deliver on our strategic initiatives.”
Mr. Arbel retired as Deputy CEO from Leumi, Israel’s largest banking group, in April 2023, where he was instrumental in business growth and leading the service revolution. With over 25 years of experience at Leumi, Arbel has held senior roles throughout the organization, such as head of retail banking, head of the corporate division, and as chairman of Leumi UK. With key roles in Israel, New York and London, Mr. Arbel has a wide view on international business.
“I am honored to join the Board of Directors at IMCC,” said Mr. Arbel. “I look forward to leveraging my experience in banking and finance, providing guidance as IMCC continues to establish itself as the go-to brand in the cannabis world. I look forward to contributing to the company’s growth.”
Arbel holds a BA and MBA from Tel Aviv University.
About IM Cannabis Corp.
IMC (Nasdaq: IMCC) (CSE: IMCC) is an international cannabis company that provides premium cannabis products to medical patients in Israel and Germany, two of the largest medical cannabis markets. The Company has focused its resources to achieve sustainable and profitable growth in its highest value markets, Israel and Germany. The Company leverages a transnational ecosystem powered by a unique data-driven approach and a globally sourced product supply chain. With an unwavering commitment to responsible growth and compliance with the strictest regulatory environments, the Company strives to amplify its commercial and brand power to become a global high-quality cannabis player.
The IMC ecosystem operates in Israel through its commercial relationship with Focus Medical Herbs Ltd., which imports and distributes cannabis to medical patients, leveraging years of proprietary data and patient insights. The Company also operates medical cannabis retail pharmacies, online platforms, distribution centers, and logistical hubs in Israel that enable the safe delivery and quality control of IMC products throughout the entire value chain. In Germany, the IMC ecosystem operates through Adjupharm GmbH, where it distributes cannabis to pharmacies for medical cannabis patients.
Disclaimer for Forward-Looking Statements
This press release contains forward-looking information or forward-looking statements under applicable Canadian and United States securities laws (collectively, “forward-looking statements“). All information that addresses activities or developments that we expect to occur in the future are forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect”, “likely” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are based on the estimates and opinions of management on the date the statements are made. In the press release, such forward-looking statements include, but are not limited to, statements relating to: the stated benefits Mr. Arbel’s appointment, including the further strengthening the Company’s commitment to driving growth in the German market while focusing on sustainable profitability; and Mr. Arbel’s international experience and track record in banking and finance will be invaluable to the Company.
Forward-looking statements are based on assumptions that may prove to be incorrect, including but not limited to: the Company’s ability to realize upon the stated benefits Mr. Arbel’s appointment; and Mr. Arbel’s international experience and track record in banking and finance becoming invaluable to the Company.
The above lists of forward-looking statements and assumptions are not exhaustive. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated or implied by such forward-looking statements due to a number of factors and risks. These include: the failure of the Company to comply with applicable regulatory requirements in a highly regulated industry; unexpected changes in governmental policies and regulations in the jurisdictions in which the Company operates; the Company’s ability to continue to meet the listing requirements of the Canadian Securities Exchange and the NASDAQ Capital Market; any unexpected failure to maintain in good standing or renew its licenses; the ability of the Company and its subsidiaries (collectively, the “Group“) to deliver on their sales commitments or growth objectives; the reliance of the Group on third-party supply agreements to provide sufficient quantities of medical cannabis to fulfil the Group’s obligations; the Group’s possible exposure to liability, the perceived level of risk related thereto, and the anticipated results of any litigation or other similar disputes or legal proceedings involving the Group; the impact of increasing competition; any lack of merger and acquisition opportunities; adverse market conditions; the inherent uncertainty of production quantities, qualities and cost estimates and the potential for unexpected costs and expenses; risks of product liability and other safety-related liability from the usage of the Group’s cannabis products; supply chain constraints; reliance on key personnel; the risk of defaulting on existing debt; risks surrounding war, conflict and civil unrest in Eastern Europe and the Middle East, including the impact of the Israel-Hamas war on the Company, its operations and the medical cannabis industry in Israel; risks associated with the Company focusing on the Israel and Germany markets; the inability of the Company to achieve sustainable profitability and/or increase shareholder value; the inability of the Company to actively manage costs and/or improve margins; the inability of the company to grow and/or maintain sales; the inability of the Company to meet its goals and/or strategic plans; the inability of the Company to reduce costs and/or maintain revenues; the Company’s inability to take advantage of the legalization of medicinal cannabis in Germany; and the Company’s inability to realize upon the stated benefits Mr. Arbel’s appointment; and Mr. Arbel’s international experience and track record in banking and finance not becoming valuable to the Company.
Please see the other risks, uncertainties and factors set out under the heading “Risk Factors” in the Company’s annual report dated March 28, 2024, which is available on the Company’s issuer profile on SEDAR+ at www.sedarplus.ca and Edgar at www.sec.gov/edgar. Any forward-looking statement included in this press release is made as of the date of this press release and is based on the beliefs, estimates, expectations and opinions of management on the date such forward looking information is made. The Company does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.
Company Contact:
Anna Taranko, Director Investor & Public Relations
IM Cannabis Corp.
+49 157 80554338
[email protected]
Oren Shuster, CEO
IM Cannabis Corp.
[email protected]
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Indivior
Indivior Provides Update on Aelis Farma’s Clinical Phase 2B Study Results with AEF0117 in Participants with Cannabis Use Disorder
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (EU) 596/2014 (AS IT FORMS PART OF DOMESTIC LAW IN THE UK BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018).
- Primary and Secondary End Points of the Study were Not Met
- Indivior Does Not Currently Expect to Exercise AEF0117 Option
SLOUGH, United Kingdom and RICHMOND, Va., Sept. 4, 2024 /PRNewswire/ — Indivior PLC (Nasdaq/LSE: INDV) is today providing an update following Aelis Farma’s announcement of the results from its clinical Phase 2B trial with AEF01171, evaluating the efficacy and safety in treatment-seeking participants with moderate to severe Cannabis Use Disorder (CUD). The purpose of this trial was twofold: (1) to show that AEF0117 (0.1, 0.3, 1 mg once a day for 12 weeks) lowers cannabis use and (2) to determine the endpoints and optimal dosage of AEF0117 for use in future studies. In this phase 2B study, patients were treatment-seeking participants, 84% of whom had severe CUD.
The results of the study demonstrated that the primary endpoint, the proportion of participants who reduced their cannabis use to ≤1 day per week, as well as secondary endpoints measuring the proportion of participants reaching either complete abstinence or who used ≤2 day per week, were not met. Although these results are disappointing, they indicate that significant work remains to be done to understand subpopulations of patients with CUD, specifically those with severe CUD.
This clinical Phase 2B study is part of the strategic collaboration between Aelis Farma and Indivior, which includes an exclusive option for Indivior to license the global rights to AEF0117. Given the lack of separation from placebo on primary and secondary endpoints and before seeing further additional favorable clinical data, Indivior does not currently expect to exercise its option.
Important Cautionary Note Regarding Forward-Looking Statements
This news release contains certain statements that are forward-looking. Forward-looking statements include, among other things, express and implied statements regarding whether: we will be able to ultimately demonstrate the safety and efficacy of AEF0117, which is a prerequisite to filing any New Drug Application; we might ever exercise our option for AEF0117 and, if so, when; and other statements containing the words “believe,” “anticipate,” “plan,” “expect,” “intend,” “estimate,” “forecast,” “strategy,” “target,” “guidance,” “outlook,” “potential,” “project,” “priority,” “may,” “will,” “should,” “would,” “could,” “can,” “outlook,” “guidance,” the negatives thereof, and variations thereon and similar expressions. By their nature, forward-looking statements involve risks and uncertainties as they relate to events or circumstances that may or may not occur in the future.
Actual results may differ materially from those because they relate to future events. Various factors may cause differences between Indivior’s expectations and actual results, including, among others, the risks described in our most recent annual report on Form 20-F beginning on page 9 as filed with the U.S. SEC and in subsequent releases; legal and market restrictions that may limit how quickly we can repurchaser our shares; the substantial litigation and ongoing investigations to which we are or may become a party; our reliance on third parties to manufacture commercial supplies of most of our products, conduct our clinical trials and at times to collaborate on products in our pipeline; our ability to comply with legal and regulatory settlements, healthcare laws and regulations, requirements imposed by regulatory agencies and payment and reporting obligations under government pricing programs; risks related to the manufacture and distribution of our products, most of which contain controlled substances; market acceptance of our products as well as our ability to commercialize our products and compete with other market participants; competition; the uncertainties related to the development of new products, including through acquisitions, and the related regulatory approval process; our dependence on third-party payors for the reimbursement of our products and the increasing focus on pricing and competition in our industry; unintended side effects caused by the clinical study or commercial use of our products; our ability to successfully execute acquisitions, partnerships, joint ventures, dispositions or other strategic acquisitions; our ability to protect our intellectual property rights and the substantial cost of litigation or other proceedings related to intellectual property rights; the risks related to product liability claims or product recalls; the significant amount of laws and regulations that we are subject to, including due to the international nature of our business; macroeconomic trends and other global developments such as armed conflicts and pandemics; the terms of our debt instruments, changes in our credit ratings and our ability to service our indebtedness and other obligations as they come due; changes in applicable tax rate or tax rules, regulations or interpretations and our ability to realize our deferred tax assets; and volatility in our share price due to factors unrelated to our operating performance or that may result from the potential move of our primary listing to the U.S.
Forward-looking statements speak only as of the date that they are made and should be regarded solely as our current plans, estimates and beliefs. Except as required by law, we do not undertake and specifically decline any obligation to update, republish or revise forward-looking statements to reflect future events or circumstances or to reflect the occurrences of unanticipated events.
This release is being made by Kathryn Hudson, Company Secretary Indivior PLC.
About Indivior
Indivior is a global pharmaceutical company working to help change patients’ lives by developing medicines to treat substance use disorders (SUD), overdose and serious mental illnesses. Our vision is that all patients around the world will have access to evidence-based treatment for the chronic conditions and co-occurring disorders of SUD. Indivior is dedicated to transforming SUD from a global human crisis to a recognized and treated chronic disease.
Building on its global portfolio of OUD treatments, Indivior has a pipeline of product candidates designed to both expand on its heritage in this category and potentially address other chronic conditions and co-occurring disorders of SUD. Headquartered in the United States in Richmond, VA, Indivior employs over 1,000 individuals globally and its portfolio of products is available in over 30 countries worldwide. Visit www.indivior.com to learn more. Connect with Indivior on LinkedIn by visiting www.linkedin.com/company/indivior.
References:
- National Library of Medicine (U.S.) (2022, April). Effect of AEF0117 on treatment-seeking patients with cannabis use disorder (CUD) (SICA2). Identifier
NCT05322941 https://www.clinicaltrials.gov/study/NCT05322941
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View original content:https://www.prnewswire.co.uk/news-releases/indivior-provides-update-on-aelis-farmas-clinical-phase-2b-study-results-with-aef0117-in-participants-with-cannabis-use-disorder-302237355.html
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